Bear Lake suspends operations at Larder Lake property

Fri Jul 24, 2009 11:55pm EDT
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(Reuters) - Canada's Bear Lake Gold Ltd said it suspended all operations at its Larder Lake property and withdrew all previously announced results for the property after the gold miner discovered material inconsistencies in the exploration data.

It appears that the data inconsistencies are of a serious nature and the reporting of corrected assay results could show significant reductions of gold values for some of the drilling intercepts, it said in a statement.

The company had said it retained Scott Wilson Roscoe Postle Associates to lead a technical investigation.

In January, the company said it added a third drill rig at the Larder Lake property, located in Northern Ontario, to accelerate the pace of its exploration program.

(Reporting by Ashutosh Joshi in Bangalore; Editing by Vinu Pilakkott)